KAF gives Trading Buy signal to Bukit Asam stock

Published on 10/12/2026 at 09:09 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Half-year profit hit IDR 2.65 trillion, up 218 percent year over year. Bukit Asam stock costs EUR 0.16 on October 12, 2026 versus EUR 0.18 ask.

Key points in brief

KAF assigned Bukit Asam a Trading Buy signal for October 12, 2026, while its fundamental view remained Hold.
First-half 2026 net profit reached IDR 2.65 trillion, up 218 percent year over year.
The stock was trading at EUR 0.16 at Lang & Schwarz on October 12, 2026, at 9:04 a.m. CEST.
The company reported 19.45 million tons of first-half production against a 50 million ton full-year target.

Bukit Asam, ID1000094006, Illustration mit AI erstellt.

Bukit Asam (ID1000094006) was assigned a Trading Buy signal for October 12, 2026, while KAF Sekuritas kept its fundamental view at Hold and set a fundamental target of IDR 3,450. The recommendation was based on a technical setup rather than a full fundamental upgrade.

KAF sees a short-term setup

According to KAF Sekuritas on October 12, 2026, PTBA was priced at IDR 3,300 in the research dated October 9, with resistance targets of IDR 3,340 and IDR 3,390 and a cut-loss level of IDR 3,180.

The same research placed PTBA between its lower and center trend lines. Its reported R-squared reading was 0.902 and its slope was 24.36, while a bearish MACD crossover remained a technical counter-factor.

Profit growth outpaces revenue

CNBC Indonesia reported on October 5, 2026, that first-half net profit reached IDR 2.65 trillion, up 218 percent from IDR 0.83 trillion in the same period of 2025. Revenue rose 8 percent to IDR 22.03 trillion from IDR 20.46 trillion, showing that profit growth substantially exceeded sales growth.

First-half EBITDA reached IDR 4.27 trillion and net profit margin stood at 12 percent, according to the same CNBC Indonesia report. The company attributed the improvement to cost efficiency, stronger export sales and a 5 percent year-over-year increase in average selling price.

What does the signal mean for margins?

The figures point to operating leverage: an 8 percent revenue increase accompanied a 218 percent net profit increase in the first half of 2026. That gap makes costs, selling prices and coal supply conditions more important than headline sales growth for the next results period.

Three dated operating milestones

On October 5, 2026, Bukit Asam reported first-half net profit of IDR 2.65 trillion, according to CNBC Indonesia. On October 8, 2026, production had reached 19.45 million tons and the full-year production target stood at 50 million tons, as CNBC Indonesia reported.

On October 12, 2026, KAF Sekuritas listed PTBA as a Trading Buy at IDR 3,300, with a fundamental Hold view and an IDR 3,450 target. The contrast between the technical signal and the fundamental rating makes the IDR 3,000 to IDR 3,100 accumulation area a key reference in that research.

Stock trades at EUR 0.16

Bukit Asam was trading at EUR 0.16 at Lang & Schwarz on October 12, 2026, at 9:04 a.m. CEST. The euro quote sat between a EUR 0.15 bid and a EUR 0.18 ask, while the primary-market quote was IDR 3,260 at the Indonesia Stock Exchange at 6:58 a.m. UTC on October 12, 2026.

The further course of trading is shown by the continuously updated real-time quote of Bukit Asam stock.